Caesars Names Attorney Barbara Garigliano Special Consultant for Mohaw

    Business Editors

    MONTICELLO, N.Y.--(BUSINESS WIRE)--Jan. 4, 2005--Caesars Entertainment, Inc. (NYSE:CZR), one of the world's leading gaming companies, today named veteran Sullivan County real estate attorney Barbara Garigliano as a special consultant for the development of the planned $500-million Mohawk Mountain Casino Resort.
    To be built on the shores of Anawana Lake in the town of Thompson, in the heart of the Catskill Mountains, the casino will be owned by the Saint Regis Mohawk Tribe and managed by Caesars Entertainment. The project is awaiting final approval from federal and state government agencies.
    A1980 graduate of the Syracuse University College of Law, Garigliano has practiced real estate law in Sullivan County for nearly 20 years. She has been involved in the development of the Mohawk casino project since 2000. As Caesars' local representative, Garigliano replaces Richard L. "Chuck" Miller, who resigned to pursue another business opportunity.
    "Barbara Garigliano is the best possible person to help us keep this project moving forward," said Caesars Executive Vice President and General Counsel Bernard E. DeLury, Jr. "Working with the Mohawk Tribe and its leaders, we have accomplished a great deal in the last four years. Now it is time to finish the development work and start building what will be the finest casino resort in New York State," DeLury added.
    "This project is very dear to my heart. Given my history with Caesars and the Saint Regis Mohawk Tribe, I'm very excited to be taking on these additional responsibilities," said Garigliano. "Having been involved in this project from the beginning, I want to be there when Mohawk Mountain's doors open for the first time."
    Both DeLury and Garigliano applauded the work done by Miller, who served as the company's liaison with the Mohawk Tribe and project coordinator for the past four years. "Chuck's shoes will be hard to fill," Garigliano said.
    The 750-room Mohawk Mountain resort hotel and 160,000-square-foot casino is to be built near the site of Kutsher's Resort and Country Club.
    In addition to providing at least 2,000 construction jobs and thousands more permanent positions for casino employees, the project will generate millions of dollars in annual tax revenue for New York State and millions more in direct payments to Sullivan County, the Town of Thompson and locally impacted entities.
    The casino and resort will be built on a 174-acre site, of which 66 acres will be held in trust for the Saint Regis Mohawk Tribe by the United States Department of the Interior. In addition to the hotel and casino, the project will feature 15,000 square feet of meeting space, eight restaurants and a spa.

    About Caesars Entertainment

    Caesars Entertainment, Inc. (NYSE:CZR) is one of the world's leading gaming companies. With $4.5 billion in annual net revenue, 28 properties on four continents, 26,000 hotel rooms, two million square feet of casino space and 52,000 employees, the Caesars portfolio is among the strongest in the industry. Caesars casino resorts operate under the Caesars, Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names. The company has its corporate headquarters in Las Vegas.
    In July 2004, the Board of Directors of Caesars Entertainment approved an offer from Harrah's Entertainment to acquire the company for approximately $1.8 billion and 66.3 million shares of Harrah's common stock. The offer must be approved by shareholders of both companies and federal and state regulators before the transaction can close.
    Additional information on Caesars Entertainment can be accessed through the company's web site at www.caesars.com .

    NOTE: This press release contains "forward-looking statements" within the meaning of the federal securities law, which are intended to qualify for the safe harbor from liability provided thereunder. All statements which are not historical statements of fact are "forward-looking statements" for purposes of these provisions and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements include all financial projections, including projections of revenue, market share, earnings, EBITDA, free cash flow, statements of management's plans, objectives or expectations of future economic performance, statements regarding new developments or opportunities, statements of belief, and/or statements regarding anticipated construction, development, or acquisition .Additional information concerning potential risk factors that could affect the company's future performance are described from time to time in the company's reports filed with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K for the year ended December 31, 2003 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2004, June 30, 2004 and September 30, 2004. The reports may be viewed free of charge at the following website: www.sec.gov. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

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CONTACT: Caesars Entertainment, Inc. Media: Robert W. Stewart, 702-699-5043 stewartr@caesars.com or Investors: Josh Hirsberg, 702-699-5269 hirsbergj@caesars.com

KEYWORD: NEVADA NEW YORK INDUSTRY KEYWORD: REAL ESTATE BUILDING/CONSTRUCTION LEGAL/LAW TRAVEL GAMING MANAGEMENT CHANGES SOURCE: Caesars Entertainment, Inc.

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